Tuesday 24 May 2011

German mechanical and plant engineering group Duerr (ETR:DUE) said today it had bought a 55% holding in Danish filling household appliances maker Agramkow Fluid Systems from Industri Udvikling for a sum in the single-digit million euro range.

After the deal, the managing director and owner of 45% in Agramkow, Christian Cordsen Nielsen, will remain at the company.

With this acquisition, Duerr will expand its own filling equipment business, which will seek to generate more than EUR50m (USD70.4m) in sales this year, the buyer said.

Sonderborg-headquartered Agramkow had sales of EUR21m in 2010.